Isle of Capri Casinos, Inc., Wednesday (9/4) blamed the weak economy and bad weather for its $4.9 million loss during the first quarter ended July 28.

The loss of 12 cents per share compares with a 17 cents per share profit for the same quarter a year ago.

The negative earnings came despite a more than 5 percent increase in revenues for the period compared with 2012. Net revenues for the quarter totaled $247.7 million compared with $235.8 million for the first quarter of 2012. The higher revenues were offset by a $3.9 million expense from the opening of the Isle's newest casino in Pennsylvania, higher gambling tax expense and higher marketing and administrative costs.

The Isle of Capri owns the Isle of Capri Casino in Bettendorf, the Rhythm City Casino in Davenport, and two other Iowa gambling parlors in Waterloo and Marquette. Revenues at all four Iowa locations were down from a year ago, declining to $57.2 million in net revenues for the period compared with $59.3 million for the same quarter last year.

The Iowa Department of Natural Resources (IDNR) – after years of seeking to avoid federal designation of Muscatine for being in violation of ambient air standards – will begin the process of developing a plan to reduce sulfur dioxide pollution in the community.

A meeting has been scheduled by the IDNR for 6 p.m., Thursday, October 3 at the Environmental Learning Center, 3300 Cedar Street, to discuss preliminary plans for addressing the U.S. Environmental Protection Agency's (EPA) "non-attainment" designation of Muscatine issued July 26.

With the non-attainment designation comes the requirement the state develop a plan to bring the city into compliance with the National Ambient Air Quality Standards. The so-called State Implementation Plan (SIP) must be completed within 18 months of the non-attainment designation.

Northpark Mall in Davenport turns 40 this year, and much like humans of that age, the salad days are long gone. In fact, Northpark, like most shopping malls are well past middle age and fast headed to the scrap heap of obsolescence.

The mass relocation of retail shopping from America's downtowns to suburban malls – fueled by cheap gas and two cars in every garage – ran its course some time ago. Most small locally owned stores folded in the onslaught of chain-store competion and high-rent mall leases.

Now it's the malls' turn to be choked by some of the same market forces.

Malls are no longer new, cool or the only hub of retail in the community. Strip malls and the new shopping bully – huge big box stores with their own interstate access and parking acreage – have overtaken the mall shopping "experience."

The Iowa Office of Consumer Advocate (OCA) won't contest any of the $6 million in expenditures made by MidAmerican Energy to examine the feasibility of building a nuclear power plant in the state.

OCA director Mark Schuling said he is not planning to contest any of the utility's expenses, including the $44,000 spent on a "public perception" study on nuclear power conducted by a Des Moines public relations firm in November 2010. The telephone survey – conducted shortly after the utility got the green light from the state legislature to raise rates to pay for the $15-million feasibility study – focused on six locations identified as likely sites for a new nuke plant.

The survey by Flynn Wright Public Relations found residents in Woodbury County would not be happy about the prospects of a nuclear plant nearby, while residents in the two "finalist" sites – Muscatine and Fremont counties – were much more "accepting" of a nuclear plant being built nearby.

The U.S. Environmental Protection Agency (EPA) has agreed with the state of Iowa to reduce the area around Muscatine to be designated as in "non-attainment" for sulfur dioxide (SO2) emissions and subject to increased efforts to lower the SO2 pollution levels.

The EPA last February designated all of Muscatine County as in non-attainment for SO2, but the Iowa Department of Natural Resources (IDNR) in April submitted additional air modeling to support its recommendation the non-attainment area be reduced to include only the city of Muscatine and the immediate surrounding area.

For the past six years, the Bettendorf Home Depot has received a $151,000 property tax rebate check from the city thanks to a Tax Increment Financing (TIF) deal that enticed the company to build a store as part of the Duck Creek Plaza redevelopment along Middle Road.

However, the significant tax break – totaling $5.37 million over the 11-year TIF period ending in 2016 – hasn't deterred the hardware store chain from pursuing nearly yearly appeals to state and local tax officials as it seeks to reduce the assessed value of the property, and, consequently the property taxes paid each year to Scott County, the city and the Bettendorf School District.

Two years ago, the company was successful in lowering its taxable value from $6.76 million to $6.167 million, a 9 percent decrease. Store attorneys had asked for a reduction to $6 million, or more than an 11 percent cut, according to Scott County officials. However, in the ensuing negotiations, the county and Home Depot agreed to the $6.167 million assessment.

Shares of Lee Enterprises, Inc. – owner of the Quad City Times – climbed to a 52-week high Tuesday (7/23) after reporting positive earnings for the third quarter ended June 30.

The company announced earnings of $1.97 million, 3 cents a share, for the quarter, compared with a loss of 3 cents per share for the same period a year ago.

Lee stock has risen nearly $2 a share since April, about the same time that investor Warren Buffett disclosed his conglomerate – Berkshire Hathaway – had accumulated 1.6 million shares in the Davenport-based company. Buffett purchased the Omaha World-Herald last year and now owns 68 daily newspapers under his BH Media subsidiary. Just last week, Buffett's media group announced plans to acquire the Press of Atlantic City, N.J.

With the Davenport Wastewater Treatment Plant unable to handle the inflows, the city of Bettendorf has been forced to pump more than 200 million gallons of diluted untreated sewage into the Mississippi River so far this year.

Five times this spring and summer the wastewater treatment plant has been unable to handle the sewer flows and crews have partially closed the riverfront interceptor lines between Bettendorf and Davenport. Then, to prevent sewage from backing up into homes and businesses along the riverfront, Bettendorf runs six to nine large pumps to flush the wastewater into stormwater pipes, which discharge into the Mississippi River.

A total of 201 million gallons of "sanitary sewer overflows" has been dumped into the river so far this year, according to reports filed with the Iowa Department of Natural Resources (IDNR). Between April 17 and April 27, 98 million gallons of sewage was pumped into the river, and another 68 million gallons of sewage was dumped between May 26 and June 3. Between May 3 and May 5, 16 million gallons of sewage was pumped into the river, 9.4 million gallons was flushed into the river from April 10 through April 12, and 8.8 million gallons went into the river on March 10.

All the pumping – "sewage overflow events" as they are termed by the IDNR – must be reported by the city to the state.

Revenues at Iowa gambling parlors – race tracks and riverboat casinos – declined 1.5 percent during fiscal 2013 to $1.44 billion, reflecting a nearly 6 percent drop in admissions at the state's 15 riverboats and flat admissions at the four state-licensed race tracks.

The decline in admissions and adjusted gross revenues at Iowa gambling parlors is sure to add to the debate over whether the state should issue additional gambling licenses. A Cedar Rapids group, after getting voter approval for gambling in Linn County, is expected to submit a request for a license in the coming months.

The race tracks and riverboat casinos posted record revenues of $1.466 billion in fiscal 2012, but the strong showing didn't carryover during the past 12 months despite improved economic conditions in the region.

UPDATE 6/27: Developers of the new hotel and two commercial businesses are seeking Tax Increment Financing (TIF) rebates totaling $1.675 million over a 10-year period. Taxes on the property are now $82,530 per year and the new hotel and commercial businesses are expected to have "incremental" taxes of $148,720 a year. The property has a current assessed value of $2.35 million. The proposed development is projected to increase the assessed value to $9.25 million.

A North Liberty, Iowa hotel group and a local developer are seeking property tax rebates from the city, school district and county to redevelop the HomeRidge Inn & Suites property along Middle Road, Bettendorf, into a new Hilton Garden Inn and two additional commercial businesses.

Kinseth Hospitality Companies and First Equity Management L.C. have been negotiating with the city over Tax Increment Financing (TIF) for the project. Bettendorf School District and Scott County officials have been invited to a meeting with the city Friday, June 28 where the TIF request will be discussed.